Synthetic cannabinoid was primarily conceptualized as a critical pharmacological tool to evaluate the endocannabinoid system. Gradually, synthetic cannabinoids gained immense popularity across the pharmacotherapies space, particularly in developed regions of the world, including North America and Europe. The demand for synthetic cannabinoids as an atypical drug for pain management, neurological disorder management, etc. has witnessed a considerable spike over the past few years and the trend is likely to continue in the upcoming decade. Although the demand for synthetic cannabinoids is on the rise, negative effects of synthetic cannabinoids, including mood disorders and impairment in executive functions could potentially hinder the growth of the global synthetic cannabinoids market during the forecast period.
The regulatory landscape pertaining to the procurement and consumption of synthetic cannabinoids in various regions is another major factor anticipated to influence the growth trajectory of the global synthetic cannabinoids market during the assessment period. Research and development activities are likely to play a key role in promoting and creating awareness regarding the potential health benefits of synthetic cannabinoids– a factor that could propel the market for synthetic cannabinoids in the forthcoming decade.
At the back of these factors, the global synthetic cannabinoids market is on the course to surpass the US$ 11.3 Bn mark by the end of 2030.
The expansion of the global synthetic cannabinoids market is expected to pin its hope on the regulatory framework pertaining to the consumption of synthetic cannabinoid products. The growing popularity of e-cigarettes coupled with the increasing affinity toward the usage of synthetic cannabinoids as an alternative for non-synthetic cannabis in several regions of the world is projected to provide a considerable boost to the consumption of synthetic cannabinoids. Furthermore, synthetic cannabinoids are marketed as a legal and safe alternative to marijuana in several parts of the world due to which, the sales of synthetic cannabinoids have witnessed growth particularly among the millennial population. However, the increasing uncertainty over the effects of synthetic cannabinoids consumption and increasing evidence indicating the negative impact of synthetic cannabinoids on the human brain are some of the key factors estimated to hinder the growth of the global synthetic cannabinoids market in the upcoming years.
A number of players have gradually entered the synthetic cannabinoids market in the past few years, and are attracting new consumers by focusing on their packaging and marketing strategies. Over the past few years, synthetic cannabinoids were primarily available in novelty stores, gas stations, and drug paraphernalia shops in several parts of North America. However, due to the evolving regulatory landscape, synthetic cannabinoids products are now available at retail pharmacies, online pharmacies, and hospital pharmacies.
Rising consumer interest and demand for non-regulated psychoactive substance over the past few years is expected to propel the global synthetic cannabinoids market during the assessment period. The demand for synthetic cannabinoids to assess the potential impact to treat a range of diseases and symptoms, including neurodegenerative diseases, pain disorders, drug dependence, and cancer is another major factor likely to fuel the growth of the global synthetic cannabinoids market. China is one of the key exporters of synthetic cannabinoids products and the trend is projected to continue over the upcoming years. The surge in the number of ‘legal high’ retailers across North America and Europe is also expected to positively impact the sales of synthetic cannabinoid products in the upcoming years.
The onset of the novel COVID-19 pandemic is projected to hinder the sales of synthetic cannabinoids, particularly in 2020. The increasing awareness pertaining to the novel COVID-19 infection and its effect on the human respiratory system is one of the key factors that is expected to hinder the sales of synthetic cannabinoids in 2020. In addition, stringent government regulations in several regions of the world pertaining to the trade and transportation of non-essential goods and commodities are a major factor expected to disrupt the global supply chain for synthetic cannabinoids in 2020.
Analysts’ Viewpoint
The global synthetic cannabinoids market is expected to grow at a staggering CAGR of ~21% during the forecast period. Rising focus on research and development, encouraging outcome of several research projects, growing consumer demand for non-regulated psychoactive substances, and potential health benefits associated with synthetic cannabinoids are some of the factors projected to propel the global synthetic cannabinoids market during the assessment period. Market players should focus on streamlining the supply chain and focus on the packaging of their products to gain a competitive edge.
The global synthetic cannabinoids market was worth US$ 1.4 Bn and is projected to reach a value of US$ 11.3 Bn by the end of 2030
Synthetic cannabinoids market is anticipated to grow at a CAGR of 21% during the forecast period
North America accounted for a major share of the global synthetic cannabinoids market
Synthetic cannabinoids market is driven by increase in incidence of joint and muscle pain, and rise in focus of companies on capitalizing CBD products are the key factors projected to drive the global market during the forecast period
Key players in the global synthetic cannabinoids market include Mylan N.V., Alkem Labs, Noramco, Lygos, Inc., Hyasynth Biologicals, Inc., Renew Biopharma, CannBioRx Life Sciences, and Ginkgo Bioworks
1. Preface
1.1. Market Definition and Scope
1.2. Market Segmentation
1.3. Key Research Objectives
1.4. Research Highlights
2. Assumptions and Research Methodology
3. Executive Summary: Global Synthetic Cannabinoids Market
4. Market Overview
4.1. Introduction
4.2. Overview
4.3. Market Dynamics
4.3.1. Drivers
4.3.2. Restraints
4.4. Global Synthetic Cannabinoids Market Analysis and Forecast, 2018–2030
4.4.1. Market Revenue Projections (US$ Mn)
5. Market Outlook
5.1. Export-Import Scenario
5.2. Global Regulatory Status of Synthetic Cannabinoids
5.3. COVID-19 Pandemic Impact on Industry (Value Chain and Short / Mid / Long Term Impact)
5.4. Current and Future Areas of Demand
5.5. Value Chain, Stakeholder
5.6. Pricing Analysis
5.7. Methods of Manufacturing Synthetic Cannabinoids
6. Global Synthetic Cannabinoids Market Value (US$ Mn) Forecast, by Product Type
6.1. Introduction & Definition
6.2. Global Synthetic Cannabinoids Market Value Forecast, by Product Type, 2018–2030
6.2.1. High-pure Synthetic Cannabinoids
6.2.2. Ultra-pure Synthetic Cannabinoids
6.3. Global Synthetic Cannabinoids Market Attractiveness Analysis, by Product Type
7. Global Synthetic Cannabinoids Market Value (US$ Mn) Forecast, by Indication
7.1. Introduction & Definition
7.2. Global Synthetic Cannabinoids Market Value Forecast, by Indication, 2018–2030
7.2.1. Pain Management
7.2.2. Nausea/Vomiting
7.2.3. Neurological Disorder Management
7.2.4. Others
7.3. Global Synthetic Cannabinoids Market Attractiveness Analysis, by Indication
8. Global Synthetic Cannabinoids Market Value (US$ Mn) Forecast, by Distribution Channel
8.1. Introduction
8.2. Global Synthetic Cannabinoids Market Value Forecast, by Distribution Channel, 2018–2030
8.2.1. Hospital Pharmacies
8.2.2. Retail Pharmacies
8.2.3. Online Pharmacies
8.3. Global Synthetic Cannabinoids Market Attractiveness Analysis, by Distribution Channel
9. Global Synthetic Cannabinoids Market Value (US$ Mn) Forecast, by Region
9.1. Introduction
9.2. Synthetic Cannabinoids Market Value Forecast, by Region, 2018–2030
9.2.1. North America
9.2.2. Europe
9.2.3. Latin America
9.2.4. Rest of the World
9.3. Global Synthetic Cannabinoids Market Attractiveness Analysis, by Region
10. North America Synthetic Cannabinoids Market Analysis and Forecast
10.1. Introduction
10.2. North America Synthetic Cannabinoids Market Value Forecast, by Product Type, 2018–2030
10.2.1. High-pure Synthetic Cannabinoids
10.2.2. Ultra-pure Synthetic Cannabinoids
10.3. North America Synthetic Cannabinoids Market Value Forecast, by Indication, 2018–2030
10.3.1. Pain Management
10.3.2. Nausea/Vomiting
10.3.3. Neurological Disorder Management
10.3.4. Others
10.4. North America Synthetic Cannabinoids Market Value Forecast, by Distribution Channel, 2018–2030
10.4.1. Hospital Pharmacies
10.4.2. Retail Pharmacies
10.4.3. Online Pharmacies
10.5. North America Synthetic Cannabinoids Market Value Forecast, by Country, 2018–2030
10.5.1. U.S.
10.5.2. Canada
10.6. North America Synthetic Cannabinoids Market Attractiveness Analysis
10.6.1. By Product Type
10.6.2. By Indication
10.6.3. By Distribution Channel
10.6.4. By Country/Sub-region
11. Europe Synthetic Cannabinoids Market Analysis and Forecast
11.1. Introduction
11.2. Europe Synthetic Cannabinoids Market Value Forecast, by Product Type, 2018–2030
11.2.1. High-pure Synthetic Cannabinoids
11.2.2. Ultra-pure Synthetic Cannabinoids
11.3. Europe Synthetic Cannabinoids Market Value Forecast, by Indication, 2018–2030
11.3.1. Pain Management
11.3.2. Nausea/Vomiting
11.3.3. Neurological Disorder Management
11.3.4. Others
11.4. Europe Synthetic Cannabinoids Market Value Forecast, by Distribution Channel, 2018–2030
11.4.1. Hospital Pharmacies
11.4.2. Retail Pharmacies
11.4.3. Online Pharmacies
11.5. Europe Synthetic Cannabinoids Market Value Forecast, by Country/Sub-region, 2018–2030
11.5.1. Germany
11.5.2. U.K.
11.5.3. France
11.5.4. Spain
11.5.5. Italy
11.5.6. Rest of Europe
11.6. Europe Synthetic Cannabinoids Market Attractiveness Analysis
11.6.1. By Product Type
11.6.2. By Indication
11.6.3. By Distribution Channel
11.6.4. By Country/Sub-region
12. Latin America Synthetic Cannabinoids Market Analysis and Forecast
12.1. Introduction
12.2. Latin America Synthetic Cannabinoids Market Value Forecast, by Product Type, 2018–2030
12.2.1. High-pure Synthetic Cannabinoids
12.2.2. Ultra-pure Synthetic Cannabinoids
12.3. Latin America Synthetic Cannabinoids Market Value Forecast, by Indication, 2018–2030
12.3.1. Pain Management
12.3.2. Nausea/Vomiting
12.3.3. Neurological Disorder Management
12.3.4. Others
12.4. Latin America Synthetic Cannabinoids Market Value Forecast, by Distribution Channel, 2018–2030
12.4.1. Hospital Pharmacies
12.4.2. Retail Pharmacies
12.4.3. Online Pharmacies
12.5. Latin America Synthetic Cannabinoids Market Value Forecast, by Country/Sub-region, 2018–2030
12.5.1. Brazil
12.5.2. Mexico
12.5.3. Rest of Latin America
12.6. Latin America Synthetic Cannabinoids Market Attractiveness Analysis
12.6.1. By Product Type
12.6.2. By Indication
12.6.3. By Distribution Channel
12.6.4. By Country/Sub-region
13. Rest of the World Synthetic Cannabinoids Market Analysis and Forecast
13.1. Introduction
13.2. Rest of the World Synthetic Cannabinoids Market Value Forecast, by Product Type, 2018–2030
13.2.1. High-pure Synthetic Cannabinoids
13.2.2. Ultra-pure Synthetic Cannabinoids
13.3. Rest of the World Synthetic Cannabinoids Market Value Forecast, by Indication, 2018–2030
13.3.1. Pain Management
13.3.2. Nausea/Vomiting
13.3.3. Neurological Disorder Management
13.3.4. Others
13.4. Rest of the World Synthetic Cannabinoids Market Value Forecast, by Distribution Channel, 2018–2030
13.4.1. Hospital Pharmacies
13.4.2. Retail Pharmacies
13.4.3. Online Pharmacies
13.5. Rest of the World Synthetic Cannabinoids Market Attractiveness Analysis
13.5.1. By Product Type
13.5.2. By Indication
13.5.3. By Distribution Channel
14. Competition Landscape
14.1. Global Synthetic Cannabinoids Market Share Analysis, by Company, 2019
14.2. Company Profiles
14.2.1. Mylan N.V.
14.2.1.1. Company Description
14.2.1.2. Business Overview
14.2.1.3. Financial Overview
14.2.1.4. Strategic Overview
14.2.1.5. SWOT Analysis
14.2.2. Alkem Labs
14.2.2.1. Company Description
14.2.2.2. Business Overview
14.2.2.3. Financial Overview
14.2.2.4. Strategic Overview
14.2.2.5. SWOT Analysis
14.2.3. Noramco
14.2.3.1. Company Description
14.2.3.2. Business Overview
14.2.3.3. Financial Overview
14.2.3.4. Strategic Overview
14.2.3.5. SWOT Analysis
14.2.4. Lygos Inc.
14.2.4.1. Company Description
14.2.4.2. Business Overview
14.2.4.3. Financial Overview
14.2.4.4. Strategic Overview
14.2.4.5. SWOT Analysis
14.2.5. Hyasynth Biologicals, Inc.
14.2.5.1. Company Description
14.2.5.2. Business Overview
14.2.5.3. Financial Overview
14.2.5.4. Strategic Overview
14.2.5.5. SWOT Analysis
14.2.6. Renew Biopharma
14.2.6.1. Company Description
14.2.6.2. Business Overview
14.2.6.3. Financial Overview
14.2.6.4. Strategic Overview
14.2.6.5. SWOT Analysis
14.2.7. CannBioRx Life Sciences
14.2.7.1. Company Description
14.2.7.2. Business Overview
14.2.7.3. Financial Overview
14.2.7.4. Strategic Overview
14.2.7.5. SWOT Analysis
14.2.8. Ginkgo Bioworks
14.2.8.1. Company Description
14.2.8.2. Business Overview
14.2.8.3. Financial Overview
14.2.8.4. Strategic Overview
14.2.8.5. SWOT Analysis
List of Tables
Table 01: Synthetic Cannabinoids Market Price ($), Region, 2019
Table 02 : Global Synthetic Cannabinoids Market, by Product Type
Table 03: Global Synthetic Cannabinoids Market Value (US$ Mn) Forecast, by Product Type, 2018–2030
Table 04: Global Synthetic Cannabinoids Market, by Indication
Table 05: Global Synthetic Cannabinoids Market Value (US$ Mn) Forecast, by Indication, 2018–2030
Table 06: Global Synthetic Cannabinoids Market, by Distribution Channel
Table 07: Global Synthetic Cannabinoids Market Value (US$ Mn) Forecast, by Distribution Channel, 2018–2030
Table 08: Global Synthetic Cannabinoids Market, by Region
Table 09: Global Synthetic Cannabinoids Market Value (US$ Mn) Forecast, by Region, 2018–2030
Table 10: Global Synthetic Cannabinoids Market Prescription (Units) Forecast, by Region, 2018–2030
Table 11: North America Synthetic Cannabinoids Market Value (US$ Mn) Forecast, by Country, 2018–2030
Table 12: North America Synthetic Cannabinoids Market Value (US$ Mn) Forecast, by Product Type, 2018–2030
Table 13: North America Synthetic Cannabinoids Market Value (US$ Mn) Forecast, by Indication, 2018–2030
Table 14: North America Synthetic Cannabinoids Market Value (US$ Mn) Forecast, by Distribution Channel, 2018–2030
Table 15: Europe Synthetic Cannabinoids Market Value (US$ Mn) Forecast, by Country/Sub-region, 2018–2030
Table 16: Europe Synthetic Cannabinoids Market Value (US$ Mn) Forecast, by Product Type, 2018–2030
Table 17: Europe Synthetic Cannabinoids Market Value (US$ Mn) Forecast, by Indication, 2018–2030
Table 18: Europe Synthetic Cannabinoids Market Value (US$ Mn) Forecast, by Distribution Channel, 2018–2030
Table 19: Latin America Synthetic Cannabinoids Market Value (US$ Mn) Forecast, by Country/Sub-region, 2018–2030
Table 20: Latin America Synthetic Cannabinoids Market Value (US$ Mn) Forecast, by Product Type, 2018–2030
Table 21: Latin America Synthetic Cannabinoids Market Value (US$ Mn) Forecast, by Indication, 2018–2030
Table 22: Latin America Synthetic Cannabinoids Market Value (US$ Mn) Forecast, by Distribution Channel, 2018–2030
Table 23: Rest of the World Synthetic Cannabinoids Market Value (US$ Mn) Forecast, by Product Type, 2018–2030
Table 24: Rest of the World Synthetic Cannabinoids Market Value (US$ Mn) Forecast, by Indication, 2018–2030
Table 25: Rest of the World Synthetic Cannabinoids Market Value (US$ Mn) Forecast, by Distribution Channel, 2018–2030
Table 26: Mylan N.V. Company Details
Table 27: Mylan N.V. Business Overview
Table 28: Alkem Labs Company Details
Table 29: Alkem Labs Business Overview
Table 30: Noramco Company Details
Table 31: Noramco Business Overview
Table 32: Lygos, Inc. Company Details
Table 33: Lygos, Inc. Business Overview
Table 34: Hyasynth Biologicals, Inc. Company Details
Table 35: Hyasynth Biologicals, Inc. Business Overview
Table 36: Global Synthetic Cannabinoids Market Other Prominent Players, 2019
List of Figures
Figure 01: Global Synthetic Cannabinoids Market Size Estimation Methodology
Figure 02: Global Synthetic Cannabinoids Market Share, by Product Type
Figure 03: Global Synthetic Cannabinoids Market Share, by Indication
Figure 04: Global Synthetic Cannabinoids Market Share, by Distribution Channel
Figure 05: Global Synthetic Cannabinoids Market Share, by Region
Figure 06: Global Synthetic Cannabinoids Market Value (US$ Mn) Forecast, 2018–2030
Figure 07: Global Synthetic Cannabinoids Regulatory Status
Figure 08: Global Synthetic Cannabinoids Market Value Share Analysis, by Product Type, 2019 and 2030
Figure 09: Global Synthetic Cannabinoids Market Attractiveness Analysis, by Product Type, 2020–2030
Figure 10: Global Synthetic Cannabinoids Market Value (US$ Mn), by High-pure Synthetic Cannabinoid, 2018–2030
Figure 11: Global Synthetic Cannabinoids Market Value (US$ Mn), by Ultra-pure Synthetic Cannabinoid, 2018–2030
Figure 12: Global Synthetic Cannabinoids Market Value Share Analysis, by Indication, 2019 and 2030
Figure 13: Global Synthetic Cannabinoids Market Attractiveness Analysis, by Indication, 2020–2030
Figure 14: Global Synthetic Cannabinoids Market Value (US$ Mn), by Nausea/Vomiting, 2018–2030
Figure 15: Global Synthetic Cannabinoids Market Value (US$ Mn), by Pain Management, 2018–2030
Figure 16: Global Synthetic Cannabinoids Market Value (US$ Mn), by Neurological Disorder Management, 2018–2030
Figure 17: Global Synthetic Cannabinoids Market Value (US$ Mn), by Others, 2018–2030
Figure 18: Global Synthetic Cannabinoids Market Value Share Analysis, by Distribution Channel, 2019 and 2030
Figure 19: Global Synthetic Cannabinoids Market Attractiveness Analysis, by Distribution Channel, 2020–2030
Figure 20: Global Synthetic Cannabinoids Market Value (US$ Mn), by Hospital Pharmacies, 2018–2030
Figure 21: Global Synthetic Cannabinoids Market Value (US$ Mn), by Retail Pharmacies, 2018–2030
Figure 22: Global Synthetic Cannabinoids Market Value (US$ Mn), by Online Pharmacies, 2018–2030
Figure 23: Global Synthetic Cannabinoids Market Value Share Analysis, by Region, 2019 and 2030
Figure 24: Global Synthetic Cannabinoids Market Attractiveness Analysis, by Region, 2020–2030
Figure 25: North America Synthetic Cannabinoids Market Value (US$ Mn) Forecast, 2018–2030
Figure 26: North America Synthetic Cannabinoids Market Value Share, by Country, 2019–2030
Figure 27: North America Synthetic Cannabinoids Market Attractiveness, by Country, 2019–2030
Figure 28: North America Synthetic Cannabinoids Market Value Share (%), by Product Type, 2019 and 2030
Figure 29: North America Synthetic Cannabinoids Market Attractiveness, by Product Type, 2020–2030
Figure 30: North America Synthetic Cannabinoids Market Value Share (%), by Indication, 2019 and 2030
Figure 31: North America Synthetic Cannabinoids Market Attractiveness, by Indication, 2020–2030
Figure 32: North America Synthetic Cannabinoids Market Value Share (%), by Distribution Channel, 2019 and 2030
Figure 33: North America Synthetic Cannabinoids Market Attractiveness, by Distribution Channel, 2020–2030
Figure 34: Europe Synthetic Cannabinoids Market Value (US$ Mn) Forecast, 2018–2030
Figure 35: Europe Synthetic Cannabinoids Market Value Share, by Country/Sub-region, 2019–2030
Figure 36: Europe Synthetic Cannabinoids Market Attractiveness, by Country/Sub-region, 2019–2030
Figure 37: Europe Synthetic Cannabinoids Market Value Share (%), by Product Type, 2019 and 2030
Figure 38: Europe Synthetic Cannabinoids Market Attractiveness, by Product Type, 2020–2030
Figure 39: Europe Synthetic Cannabinoids Market Value Share (%), by Indication, 2019 and 2030
Figure 40: Europe Synthetic Cannabinoids Market Attractiveness, by Indication, 2020–2030
Figure 41: Europe Synthetic Cannabinoids Market Value Share (%), by Distribution Channel, 2019 and 2030
Figure 42: Europe Synthetic Cannabinoids Market Attractiveness, by Distribution Channel, 2020–2030
Figure 43: Latin America Synthetic Cannabinoids Market Value (US$ Mn) Forecast, 2018–2030
Figure 44: Latin America Synthetic Cannabinoids Market Value Share, by Country/Sub-region, 2019–2030
Figure 45: Latin America Synthetic Cannabinoids Market Attractiveness, by Country/Sub-region, 2019–2030
Figure 46: Latin America Synthetic Cannabinoids Market Value Share (%), by Product Type, 2019 and 2030
Figure 47: Latin America Synthetic Cannabinoids Market Attractiveness, by Product Type, 2020–2030
Figure 48: Latin America Synthetic Cannabinoids Market Value Share (%), by Indication, 2019 and 2030
Figure 49: Latin America Synthetic Cannabinoids Market Attractiveness, by Indication, 2020–2030
Figure 50: Latin America Synthetic Cannabinoids Market Value Share (%), by Distribution Channel, 2019 and 2030
Figure 51: Latin America Synthetic Cannabinoids Market Attractiveness, by Distribution Channel, 2020–2030
Figure 52: Rest of the World Synthetic Cannabinoids Market Value (US$ Mn) Forecast, 2018–2030
Figure 53: Rest of the World Synthetic Cannabinoids Market Value Share (%), by Product Type, 2019 and 2030
Figure 54: Rest of the World Synthetic Cannabinoids Market Attractiveness, by Product Type, 2020–2030
Figure 55: Rest of the World Synthetic Cannabinoids Market Value Share (%), by Indication, 2019 and 2030
Figure 56: Rest of the World Synthetic Cannabinoids Market Attractiveness, by Indication, 2020–2030
Figure 57: Rest of the World Synthetic Cannabinoids Market Value Share (%), by Distribution Channel, 2019 and 2030
Figure 58: Rest of the World Synthetic Cannabinoids Market Attractiveness, by Distribution Channel, 2020–2030
Figure 59: Global Synthetic Cannabinoids Market Ranking of Top Market Players, 2019
Figure 60: Mylan N.V. Revenue (US$ Mn) and Y-o-Y Growth (%), 2016–2019
Figure 61: Mylan N.V. Breakdown of Net Sales (%), by Region, 2019
Figure 62: Alkem Labs Revenue (US$ Mn) and Y-o-Y Growth (%), 2016–2019
Figure 63: Alkem Labs Breakdown of Net Sales (%), by Business Segment, 2019
Figure 64: Alkem Labs Breakdown of Net Sales (%), by Region, 2019
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Synthetic Cannabinoids Market
